Guangdong-headquartered SF Holding, which operates the largest courier in China, has entered an agreement to acquire a 25% stake in Myanmar-based logistics company KOSPA Limited for US$4 million, according to a press release posted by Singapore-listed Yoma Strategic Holdings Ltd on TodayIR.com, a digital investor relations platform in the Asia Pacific region.
In the joint venture, Myanmar-based Yoma Strategic will retain a 50% stake in KOSPA, which offers warehousing and third-party logistics services across the country. Japan-based Kokubu Group will hold the remaining 25% stake.
“With SF Holding on board, KOSPA will also explore the possibility of expanding its logistics business into the cross-border trade between Myanmar and its neighbouring countries, especially China. This comes against the backdrop of deepening China–Myanmar economic relations through the Belt and Road Initiative and the Y-Shaped China Myanmar Economic Corridor,” said Melvyn Pun, CEO of Yoma Strategic.